Cimarex Energy to invest $900M–$1.1B in exploration and development in FY15Cimarex Energy released that it plans to invest $900M–$1.1B in exploration and development in 2015. Investments in gathering and other assets are forecast to approximate $50M-80M. The capital program is expected to be funded with cash flow from operating activities and the $406M of cash on hand at December 31, 2014. At the low end of capital guidance we project production growth of 3%-8%, with total company production expected to average 895MMcfe-935MMcfe per day in 2015. Incorporating recent Permian shut-ins relating to weather and pipeline maintenance, Q1 output is forecast to average 920MMcfe-940MMcfe per day. Sequentially, oil production in the Q1 is expected to grow approximately 4% while gas production exhibits a slight decline.